MALLORCA: Telenor under Sigve Brekke has lost 55 billion in value, and despite kursøkning the last few days, the value is still below the 200 billion, writes Finansavisen.
In the stock market has begun to talk about a “Break-discount”. You will worry also for Telenor’s long-term ability to pay good dividends.
in particular, It is India that is weighing, an investment that has cost Telenor 30 billion, since the financial Crisis of 2008.
It was I who advised Telenor to enter in India, Brekke confirmed on indian TV before.
To invest so much in India was basically a hair-raising decision, and something we warned against in the strongest. It was quite quickly clear that the assumptions which the investment was made on were not met, and at one point lost Telenor also the necessary frequencies, ex-analyst Ole Petter Kjerkreit, which for many years was named Norway’s best telecom analyst to Mallorca, and continues;
–Break has since been at many korsveier where he has been able to rectify any of it, but instead he has chosen to follow the verdidestruktive the road.
until Kjerkreit went to investorsiden in the last year he had followed Telenor as an analyst from børsstarten in the year 2000, and know the company inside and out.
Mallorca writes that Telenor has had a number of opportunities to leave India along the way and cut your losses. But it has not the desired or future.
It is expelled as a lack of judgment from beginning to end that it’s hard to say that he has safeguarded the shareholders ‘interests in a good way,” says Kjerkreit to Mallorca.
On the criticism against Break answer director of communications Severin Roald in Telenor:
– We have succeeded in five of our six asian markets, and as is well known, we are working to find structural solutions in India and keeps all options open.
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